Invest in Canada’s red-hot housing market maintenance free with the Canadian REITs on our list
SmallCapPower | March 30, 2017: Today we have identified five Canadian REITs (Real Estate Investment Trusts) with expected cash distribution increases of 10% or more per unit. REITs are a pool of money (trust) that is used to buy, develop, manage, and sell real estate assets. REITs generate income through renting, leasing, and selling of property and distributes it directly to the REIT holders via a cash distribution or payout—less maintenance costs of the properties. It’s like being a landlord without the required upkeep.
InterRent Real Estate Investment Trust (TSX: IIP.UN) – $7.79
Residential REITs
InterRent Real Estate Investment Trust is a real estate investment trust focused on acquisition, holding, leasing or managing of multi-unit residential properties and real estate ventures. Its portfolio consists of approximately 70 Properties containing over 8,050 suites. Approximately 2,980 suites are located in mid-sized population markets, with the remaining 5,075 suites located in the Greater Toronto Area (GTA), Montreal and the National Capital Region (NCR).
- Market Cap: $643.5 million
- YTD Price PCT Change: 4.4%
- Funds from Operations (FY0): $27.8 million
- Cash Distribution Growth (per share): 13%
Canadian Real Estate Investment Trust (TSX: REF.UN) – $49.07
Commercial REITs
Canadian Real Estate Investment Trust (the Trust) is a real estate investment trust. The Trust’s primary business objective is to accumulate and aggressively manage a portfolio of real estate assets and deliver the benefits of such real estate ownership to its Unitholders. It operates in three segments: retail, industrial and office. It operates in geographical locations, including British Columbia, Alberta, Saskatchewan (Prairies), Ontario, Quebec, Nova Scotia and New Brunswick (Atlantic), and Chicago, Illinois (the United States). Its portfolio includes over 200 properties, containing approximately 33 million square feet of gross leasable area.
- Market Cap: $3,594.2 million
- YTD Price PCT Change: 6.0%
- Funds from Operations (FY0): $239.8
- Cash Distribution Growth (per share): 12%
Pure Multi-Family REIT LP (TSXV: RUF.U) – $9.13
Residential REITs
Pure Multi-Family REIT LP (Pure Multi) is a Canada-based company, which invests in multi-family real estate properties in the United States. The Company offers investors exposure to the United States multifamily real estate assets. It offers investors the ability to participate in monthly distributions, with potential for capital appreciation, stemming from ownership of quality apartment assets located in core cities within the Southwestern and Southeastern portions of the United States, including states, such as Texas, Arizona, Georgia and Nevada (collectively, the Sunbelt).
- Market Cap: $449.2 million
- YTD Price PCT Change: 10.9%
- Funds from Operations (FY0): $29.7 million
- Cash Distribution Growth (per share): 12%
Northview Apartment REIT (TSX: NVU.UN) – $21.97
Residential REITs
Northview Apartment Real Estate Investment Trust, formerly Northern Property Real Estate Investment Trust, is an unincorporated, open-ended real estate investment trust. The Company is a multi-family residential real estate investor and operator that provide a spectrum of rental accommodations with a portfolio of over 24,000 quality residential suites in over 60 markets across Canada. Its residential portfolio includes a multi-family segment, that includes apartments, town homes and single-family rental units, and an execusuites and hotel segment, where rental period ranges from a few days to several months.
- Market Cap: $1,097.3 million
- YTD Price PCT Change: 9.5%
- Funds from Operations (FY0): $117.9 million
- Cash Distribution Growth (per share): 12%
Slate Retail REIT (TSX: SRT.UN) – $14.50
Commercial REITs
Slate Retail REIT (the REIT) is a Canada-based unincorporated open-ended real estate investment trust. The REIT focuses on acquiring, owning and leasing a portfolio of diversified revenue-producing commercial real estate properties in the United States with an emphasis on grocery-anchored retail properties. The REIT owns approximately 66 grocery-anchored retail commercial properties located in the United States comprising over 7.6 million square feet of gross leasable area (GLA).
- Market Cap: $549.1 million
- YTD Price PCT Change: -3.7%
- Funds from Operations (FY0): $55.8 million
- Cash Distribution Growth (per share): 10%
